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Rabat – Maroc Telecom (IAM) has reported a 7.1% decrease in domestic revenues in the first half of 2021 compared to the same period last year.
Overall, IAM has reached a consolidated turnover of MAD 17.78 billion ($2 billion) in the first half 2021, a drop of 3% when compared to the same time the year before, according to the company’s recently published figures.
As a result of its international subsidiaries, especially Moov Africa, the mobile giant’s revenues in the second quarter grew by 4.7% at constant exchange rates. Further evidence of this appeared in the company’s total turnover for the same period, which showed a shrinkage of 0.8%, but remained “almost stable.”
IAM’s revenues fell by 7.1% to MAD 9.77 billion ($1.1 billion) in the first half of the year, which was attributed to the company’s mobile earnings like prepaid data. On the other hand, fixed-line data grew by 7.7%.
In the same report, IAM highlighted its “resilient operational results driven by the International” operations, as part of which the company saw a “7.5% increase in the Group’s customer base to nearly 74 million customers.”
According to the report, the group has also increased its investments to improve Moroccan network service quality both through fixed and mobile infrastructure improvements.
“The results for the first half of 2021 are in line with forecasts, demonstrating the resilience of the Maroc Telecom group and the relevance of its strategic choices,” read the report, adding that the company is “doing everything it can” to help ensure economic recovery of Morocco and other countries in which it operates.
Earlier in July, Maroc Telecom’s Supervisory Board announced on July 27 the renewal of Abdeslam Ahizoune’s term as the group’s Chairman of the Management Board until March 1, 2023.
